He has played a loose-cannon Detroit detective, a pampered prince and a morbidly obese professor with a split personality. Now, Eddie Murphy is set to take on a still more challenging role – entertaining the glamorous denizens of Hollywood for the glitziest event of the year.

The hero of Beverly Hills Cop – whose star has climbed back to dizzying heights after long periods away from the limelight – has been confirmed as the host of the 84th annual Academy Awards in February next year.

The move is likely to be seen as an effort to inject a little humour into the event after this year's hosts Anne Hathaway and James Franco were widely panned.

In a stilted performance, which the New York Times described as "downright painful at times", the pair ran through a raft of skits and montages that many critics and fans found more miss than hit.

With a similarly lacklustre showing from Steve Martin and Alec Baldwin in 2010, organisers are hoping that Murphy can restore the golden age of Oscar nights, where big-hitters such as Whoopi Goldberg and Billy Crystal effortlessly entertained the most demanding of crowds.

Co-producers Brett Ratner and Don Mischer said the 50-year-old actor would bring excitement to the show. "Eddie is a comedic genius, one of the greatest and most influential live performers ever," said Ratner, who directed Murphy in upcoming action comedy Tower Heist.

"With his love of movies, history of crafting unforgettable characters and his iconic performances, especially on stage, I know he will bring excitement, spontaneity and tremendous heart to the show."

Murphy, who was himself nominated for an Academy Award in 2006 for his supporting role in the movie musical Dreamgirls, said: "I am enormously honoured to join the great list of past Academy Award hosts from Hope and Carson to Crystal, Martin and Goldberg, among others," he said in a statement.